Should the general buyback regulations prescribe certain buyback methods and proscribe others?
Presumably, buyback business plans would choose the most appropriate buyback methods. If these were not acceptable, FMCs might not request buybacks and NMFS might not implement them. If they were, the regulations required to implement each buyback would presumably incorporate each business plan’s method. Buyback methods appropriate in one fishery might be entirely inappropriate in other fisheries. Some buyback methods may not even have been conceived yet. What should the general regulations provide in this area? 10. What buyback methods might be productive, and what are their relative merits? Section 312(b)(2) specifies buyback’s objective: The objective…shall be to obtain the maximum sustained reduction in fishing capacity at the least cost and in a minimum period of time. This section also restricts buyback payments to either vessels and permits or permits alone. Where buyback pays for both vessels and permits, vessels must either be scrapped or subjected to vessel title restrictio
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